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Level 1
posted Jul 14, 2019 3:09:57 PM

S-Corp Section 179 Deduction is Zero (should be greater than zero)

In Turbotax for Business 2018, I added two business assets and specified section 179 amounts for each of them. I am within the annual limits for the Section 179 deduction and I have sufficient revenue, but Turbotax shows the deduction amount to be zero, even though it should be $791. Can someone please tell me how to correct this?

 

0 2 753
2 Replies
Level 15
Jul 14, 2019 3:21:19 PM

@Tony-Sneed wrote:

Can someone please tell me how to correct this?

There is most likely nothing to correct. Enter Forms Mode and take a look at your K-1(s).

Level 15
Jul 14, 2019 3:35:24 PM

Don't see what the issue is here. I"m seeing a SEC 179 deduction of $791. But there is zero for the completely separate special depreciation allowance which is totally different from SEC179.